NorthCrest Asset Manangement LLC Makes New $292,000 Investment in Ecolab Inc. (NYSE:ECL)

NorthCrest Asset Manangement LLC purchased a new position in Ecolab Inc. (NYSE:ECL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,143 shares of the basic materials company’s stock, valued at approximately $292,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Ecolab by 1.3% in the first quarter. Vanguard Group Inc. now owns 23,486,858 shares of the basic materials company’s stock worth $5,423,116,000 after purchasing an additional 304,402 shares during the period. Legal & General Group Plc boosted its position in shares of Ecolab by 5.0% in the second quarter. Legal & General Group Plc now owns 2,558,198 shares of the basic materials company’s stock worth $608,851,000 after purchasing an additional 122,715 shares during the period. Mirova US LLC lifted its holdings in shares of Ecolab by 2.3% in the second quarter. Mirova US LLC now owns 1,975,415 shares of the basic materials company’s stock worth $470,149,000 after buying an additional 43,553 shares in the last quarter. Swedbank AB purchased a new position in shares of Ecolab in the first quarter worth $390,687,000. Finally, American Century Companies Inc. lifted its holdings in shares of Ecolab by 1.8% in the second quarter. American Century Companies Inc. now owns 1,372,379 shares of the basic materials company’s stock worth $326,626,000 after buying an additional 24,648 shares in the last quarter. 74.91% of the stock is currently owned by institutional investors.

Ecolab Price Performance

Ecolab stock opened at $253.49 on Monday. The firm has a 50-day moving average price of $252.07 and a 200-day moving average price of $241.03. The firm has a market capitalization of $72.13 billion, a PE ratio of 42.53, a price-to-earnings-growth ratio of 2.61 and a beta of 1.13. The company has a current ratio of 1.50, a quick ratio of 1.10 and a debt-to-equity ratio of 0.91. Ecolab Inc. has a 12-month low of $156.72 and a 12-month high of $262.61.

Ecolab (NYSE:ECL) last released its earnings results on Tuesday, July 30th. The basic materials company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.01. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Ecolab had a net margin of 10.95% and a return on equity of 21.65%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $1.24 EPS. As a group, equities research analysts forecast that Ecolab Inc. will post 6.65 EPS for the current year.

Ecolab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, September 17th. Ecolab’s dividend payout ratio is presently 38.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ECL shares. JPMorgan Chase & Co. boosted their target price on shares of Ecolab from $225.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Citigroup raised shares of Ecolab from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $267.00 to $265.00 in a report on Wednesday, July 31st. Stifel Nicolaus raised shares of Ecolab from a “hold” rating to a “buy” rating and boosted their target price for the stock from $233.00 to $283.00 in a report on Monday, July 8th. Wells Fargo & Company reissued a “market perform” rating on shares of Ecolab in a report on Friday, October 18th. Finally, UBS Group decreased their price target on shares of Ecolab from $288.00 to $276.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Ecolab currently has a consensus rating of “Moderate Buy” and an average price target of $271.80.

Insider Buying and Selling

In related news, Director Victoria Reich sold 393 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $250.00, for a total value of $98,250.00. Following the transaction, the director now owns 24,041 shares of the company’s stock, valued at $6,010,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Ecolab news, Director David Maclennan bought 650 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $240.41 per share, with a total value of $156,266.50. Following the transaction, the director now owns 17,967 shares of the company’s stock, valued at approximately $4,319,446.47. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Victoria Reich sold 393 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $98,250.00. Following the transaction, the director now directly owns 24,041 shares in the company, valued at $6,010,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by insiders.

Ecolab Profile

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.